Toronto, Ontario--(Newsfile Corp. - November 20, 2018) - Relay Medical Corp. (CSE: RELA) (OTCQB: RYMDF) (FSE: EIY2) ("Relay" or the "Company"), an engine of MedTech innovation, is pleased to announce the commencement of user studies on the Company's wholly-owned Pharmatrac medication management technology. In conjunction, Relay Medical has engaged the research and systems design firm Human Factors North Inc. (HFN) to design and manage the Toronto, Ontario based user studies.
The user study is the first to be conducted by Relay since the acquisition of UX Data Sciences and its assets including the Pharmatrac technology in May of this year. The studies represent an important milestone on the path to commercialize the Pharmatrac. The system is being designed to accurately answer the needs of patients and their care circle while compiling data to be used to improve prescription management and influence patient habits. The user study protocols have been designed and are being conducted with the assistance of Human Factors North, a Toronto based human factors company who have extensive experience designing for Cognitive Ergonomics, Usability and Human Error of medical devices and systems.
"When designing a product it is absolutely crucial to validate all assumptions and to avoid committing to pre-conceptions about the problem you are working to solve. This is especially important when commercializing a progressive technology like the Pharmatrac, whose success hinges on ease of use and adaptability. These user studies serve a very important purpose in the validation process and ensuring that the technology is designed to exceed expectations of what is currently available in the marketplace." said Lahav Gil, CEO, Relay Medical Corp.
Relay Medical's Pharmatrac system development is being led by the Company's Director of Product Development, Yoav Raiter. The Company is currently engaged in designing and executing user studies, preparing for a researcher led clinical trial, requirements analysis, hardware prototypes development and software for running the devices and back-end cloud infrastructure. The team is also designing the business architecture, which includes pricing strategies, integration with existing smart-speakers and smart home systems, as well as the recurring revenue stream strategies for the subscription service offerings to the users and institutional stakeholders. The consumer device launch is part of a more elaborate path to market strategy that envisions the Pharmatrac to be integrated with the dispensing process at the pharmacy.
Human Factors North
HFN specializes in human factors and ergonomics. Human Factors North applies knowledge from the human sciences to understand how people interact with simple and complex systems, including tools, equipment and workplaces. HFN uses a systems approach to increase human productivity, comfort and safety. The HFN team have backgrounds in engineering, psychology, kinesiology, and architecture. HFN conducts applied research, assessments and training. The company provides expert opinions and design guidance and has been satisfying clients across Canada and the U.S. for over 30 years.
The Pharmatrac is a UX-centric (user experience) system designed to improve management and identification of medications. The system offers sophisticated smart solutions to patients, caregivers and other stakeholders in the pharmaceutical prescription environment.
The first phase of commercialization will be the launch of the 1st generation consumer product that consists of a suite of interactive trackers being developed to connect with an AI-driven analytics platform, enabled by IBM BlueMix, IBM Watson, and other SaaS modules. The consumer product is being designed to integrate with current and evolving smart home systems and enables consumers and caregivers to confidently identify, track, and monitor medications by utilizing audio labels, sensors, cloud, AI and Bluetooth technology, to influence user habits.
The 1st generation Pharmatrac is planned for commercial launch in North America in 2020.
About Relay Medical Corp.
Relay Medical is an evolving "Integrated MedTech Accelerator" headquartered in Toronto, Canada, acquiring early-stage technologies and inventions, advancing and preparing them for pre-commercial acquisitions in the HealthTech marketplace. By integrating the funding, development and exit process into one organization led and managed by one expert team, Relay Medical is building the capacity to accelerate and transact technologies with high efficiency and grow into a leading engine for MedTech innovation in the global HealthTech marketplace.
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